The crypto markets are approaching the weekend trade and hence the traders may be expecting some rise in volatility. As a result, the memecoins have been gaining some momentum, as after the Pepe price, the BOOK OF MEME price is also gearing up for a strong ascending trend. The BOME price has initiated a 15% increase in the past few hours, indicating the growing strength of the bulls. Therefore, the token may maintain a decent upswing throughout the weekend and eventually begin fresh weekly trade on a bullish note.
In the first few hours of the day, the PEPE price had led the memecoin rally but as the trade advanced, the BOOK OF MEME price overtook the major tokens. The markets are consolidating, and while some of the altcoins followed the trend, the BOME price along with some other memecoins triggered a strong upswing. However, the price is required to rise above the crucial resistance, which may only certify a rise above the bearish influence.
The BOME price has failed to trigger a strong ascending trend ever since it commenced its trading journey a few weeks ago. The price remained stuck within a predefined range and, despite maintaining a consolidated upswing, failed to rise above the crucial resistance at $0.015. However, the memecoin has triggered a rebound before hitting the lower support zone below $0.009, suggesting the bulls are regaining momentum, which may elevate the levels to some extent.
The rebound in the RSI levels and the fade in the selling pressure as indicated in MACD substantiate the bullish claim. Moreover, the MACD is yet to undergo a bullish crossover, which may occur in the next few hours. Once done, the BOOK OF MEME (BOME) price is expected to trigger a fresh upswing towards the local highs, which may further pave the way for the token to reach $0.02, surpassing the key resistance at $0.018.
Also Read: The Crypto Markets Continue to Drop While Institutions Accumulate ETFs: Who Is Selling BTC?
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